Energtek's Adsorbed Natural Gas (ANG) Technology Reaches Republic of the Philippines
VALLEY STREAM, N.Y., Nov. 6, 2007 -- Energtek Inc. (Energtek) (BULLETIN BOARD: EGTK) announced today the successful completion in the Philippines of the conversion and road-test of an ANG- powered three-wheeler. The conversion has been performed using the technology developed by Energtek's subsidiary, Angstore Technology Ltd.
Energtek, in cooperation with, and under the supervision of, representatives of the Department of Energy of the Republic of the Philippines and of the Philippines National Oil Company Exploration Corporation, converted and further field tested a Honda EMX-155 motorcycle with a side car (tricycle). This model is one of the most widely used motorcycles in the Philippines. The tests, performed in San Antonio, Province of Isabela, met the goals set by the involved parties.
Following the successful completion of the tests, a delegation of mayors from three cities in the Province of Isabela visited the facilities of Energtek in order to analyze the process of conversion of tricycles to Natural Gas powered vehicles.
Two and three wheel vehicles comprise the fastest growing segment of the world automotive market. Most of the vehicles in this segment, estimated at about 200,000,000 units, are in Asia.
The implementation of the ANG technology for the conversion of three- wheeled vehicles into Natural Gas powered vehicles comes less than one month after Energtek announced the completion of the first ever reported set of road tests for an ANG motorcycle, performed on one of the most widespread scooters in India.
Lev Zaidenberg, CEO of Energtek commented, "Our latest advances reinforce Energtek's leadership in the ANG technology. The successful conversion in the Philippines is a significant forward step towards the implementation of ANG systems in the vibrant NGV markets. Conversion from Gasoline to Natural Gas is accomplished in a couple of hours and at affordable prices; it allows considerable savings on fuel costs, turning a polluting vehicle into an environmentally friendly one. We anticipate strong demand for the implementation of this technology for two and three wheelers. Energtek intends to transform these achievements into product penetration in the Asian markets, where the highest concentration of two and three wheelers exists."
About ANG
The Adsorbed Natural Gas technology allows storing Natural Gas under lower pressures than Compressed Natural Gas (CNG) technology, the prevalent technology for Natural Gas Vehicles (NGV). Utilizing ANG technology vastly improves refueling expenses and allows for a more efficient use of the vehicle's space. The lower pressure used by ANG technology allows significant savings in the infrastructure costs of filling stations.
About Energtek
Energtek is assuming a leadership role in natural gas vehicle (NGV) technologies. Our business addresses the growing NGV industry with a wide range of products, from cylinders and conversion kits for vehicles through infrastructure elements for Natural Gas transportation and filling stations, including the development of pioneering storage systems. Energtek, through its investments and subsidiaries, is creating an international network of synergetic activities in Asia, Europe, America and the Middle East.
Forward-Looking Statements:
This press release contains forward-looking statements, including those related to future product plans, which involve known and unknown risks and uncertainties, which together with other factors could cause actual results to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. For a discussion of these and other known risks and uncertainties, individuals should refer to Energtek's SEC filings. Energtek does not undertake an obligation to update forward-looking statements.
IR@Energtek.com